APNewsBreak: AVP tour will cancel rest of US beach volleyball season due to money woes

APNewsBreak: AVP cancels beach v’ball season

The AVP is spiking the rest of this year’s professional beach volleyball tour because of financial troubles that left it scrambling for investors to fund the second half of the season.

The tour announced the decision on Friday after a conference call among AVP officials to discuss its money woes.

Players had been warned of the troubles last month. Beijing Olympic gold medalist Todd Rogers says he wasn’t surprised by the news that “the AVP has run out of money.”

Rogers says he hopes the tour will resume next year on better footing.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

The AVP has spiked the rest of this year’s professional beach volleyball tour because of financial troubles that left it scrambling for investors to fund the second half of the season.

The decision was made during a conference call among AVP staff and the members of the board of directors on Friday, two people familiar with the details of the call told The Associated Press. They spoke on the condition of anonymity because the decision had not yet been announced.

In an e-mail sent to the players later Friday, a copy of which was obtained by the AP, AVP CEO Jason Hodell and commissioner Mike Dodd said: “As of now, the AVP will be closing the doors.”

“It is with a heavy heart that we must tell you that despite a valiant effort by all and a flurry of investor interest, we have been unable to secure the necessary financing to continue the season,” the AVP told the players.

For the players, who had been warned of financial hurdles last month, the news was expected.

“In truth, it doesn’t come as a huge surprise,” said Beijing Olympic gold medalist Todd Rogers. “The things AVP management has said over the past four months or so have led me to believe that there could be possible financial difficulties later down the road. Now we are down that road, and sure enough the AVP has run out of money.”

In an e-mail from Norway, where he is competing in the FIVB Otera Open Kristiansand, Rogers said he and Dalhausser had signed up for extra events on the international tour “to hedge our bets.” He said he harbored hope that the tour could resume in 2011.

In its e-mail to the players, the AVP said decisions about the tour’s future rest with the firm RJSM, which is the AVP’s majority owner. RJSM managing partner Nick Lewin declined to comment.